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Each of the Am Law 200 firms who have disclosed financial results for 2023 saw revenue and profitability increases that outpaced the frequent losses and minor gains experienced in 2022. The highest-ranking firms whose financials have been disclosed, Hogan Lovells and Milbank, saw 10.3% and 17.8% increases to their revenues, translating into approximately 20.6%, and 18.6% increases in profits per equity partner (PEP), respectively, according to information provided by leaders of the firms. In recent interviews, leaders at Quinn Emanuel and Paul Hastings estimated 30% and 9% increases in revenue, respectively, although both firms are finalizing results as of Monday.
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February 12, 2024, 11:01 PM